Growth in GDP per capita can only occur if the growth in:
A. Output is greater than the growth in population.
B. Employment is greater than the growth in prices.
C. Population is greater than the growth in unemployment.
D. Prices is greater than the growth in output.
A. Output is greater than the growth in population.
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In response to the destructive bank panics of the Great Depression, future bank panics are designed to be prevented by
A) establishing a fractional reserve system of banking. B) increasing the required reserve ratio to 100%. C) the establishment of the Federal Deposit Insurance Corporation. D) the Federal Reserve System conducting open market operations. E) the Federal Reserve System acting as a lender of last resort.
Suppose we expect consumer prices to increase by about 30 percent between 2010 and 2020, and the minimum wage was $7.25 per hour in 2010. What should be the minimum wage in 2020 if it is set to maintain the same purchasing power as in 2010?
A) $7.25 B) $7.55 C) $9.42 D) none of the above.
Other things the same, the aggregate quantity of goods demanded decreases if
a. real wealth falls. b. the interest rate rises. c. the dollar appreciates. d. All of the above are correct.
Other things equal, a price discriminating monopolist will:
A. realize a smaller economic profit than a nondiscriminating monopolist. B. produce a larger output than a nondiscriminating monopolist. C. produce the same output as a nondiscriminating monopolist. D. produce a smaller output than a nondiscriminating monopolist.